TCW Group Inc. Reduces Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

TCW Group Inc. reduced its position in Marathon Petroleum Co. (NYSE:MPC) by 45.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,322 shares of the oil and gas company’s stock after selling 20,138 shares during the quarter. TCW Group Inc.’s holdings in Marathon Petroleum were worth $3,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in MPC. Catalyst Financial Partners LLC raised its stake in Marathon Petroleum by 1.6% in the 3rd quarter. Catalyst Financial Partners LLC now owns 4,285 shares of the oil and gas company’s stock valued at $698,000 after acquiring an additional 67 shares during the period. OLD Second National Bank of Aurora increased its stake in shares of Marathon Petroleum by 7.2% in the fourth quarter. OLD Second National Bank of Aurora now owns 994 shares of the oil and gas company’s stock worth $139,000 after purchasing an additional 67 shares in the last quarter. American Trust raised its position in shares of Marathon Petroleum by 5.3% in the third quarter. American Trust now owns 1,397 shares of the oil and gas company’s stock valued at $228,000 after purchasing an additional 70 shares during the period. DT Investment Partners LLC lifted its stake in shares of Marathon Petroleum by 21.5% during the 4th quarter. DT Investment Partners LLC now owns 395 shares of the oil and gas company’s stock valued at $55,000 after buying an additional 70 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in Marathon Petroleum by 3.4% in the 4th quarter. Avior Wealth Management LLC now owns 2,171 shares of the oil and gas company’s stock worth $303,000 after buying an additional 71 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Down 2.8 %

Shares of NYSE:MPC opened at $153.81 on Monday. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week high of $221.11. The firm has a fifty day moving average of $146.72 and a 200 day moving average of $156.40. The firm has a market capitalization of $49.43 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 3.11 and a beta of 1.41. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. The firm had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The company’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.98 EPS. As a group, research analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 36.66%.

Marathon Petroleum declared that its board has initiated a stock repurchase program on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MPC. Barclays lowered their target price on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Mizuho dropped their price objective on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. TD Cowen reaffirmed a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a report on Tuesday, December 10th. Raymond James increased their price target on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a report on Friday, January 17th. Finally, Wells Fargo & Company raised their price objective on shares of Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $181.27.

Insider Transactions at Marathon Petroleum

In related news, Director Jeffrey C. Campbell acquired 6,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, December 4th. The shares were purchased at an average cost of $149.61 per share, with a total value of $897,660.00. Following the completion of the purchase, the director now owns 6,090 shares of the company’s stock, valued at $911,124.90. This represents a 6,666.67 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.21% of the company’s stock.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.